Eicher Motors - Looking for strong reversal
Eicher Motors have seen strong fall in last 1 month where it fell from 29500 to sub 23000 levels and now down around 30% from its all time high,
On daily charts Eicher Motors looks deeply oversold, RSI is below 30 and Money Flow Index which is another very strong indicator is now at sub 11 which is indicating that a strong reversal is very much likely.
Another strong support is 200 Week moving average which is currently at 23200, since 2010 Eicher never traded below 200 WMA, so this is also a very good support level.
So conclusion is that Eicher Motor is providing very good entry point for Short term to Medium term long traders and for long term traders as well.
we can see good 20-30% reversal in short term.
On daily charts Eicher Motors looks deeply oversold, RSI is below 30 and Money Flow Index which is another very strong indicator is now at sub 11 which is indicating that a strong reversal is very much likely.
Another strong support is 200 Week moving average which is currently at 23200, since 2010 Eicher never traded below 200 WMA, so this is also a very good support level.
So conclusion is that Eicher Motor is providing very good entry point for Short term to Medium term long traders and for long term traders as well.
we can see good 20-30% reversal in short term.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.